Use this mortgage repayments calculator to estimate the regular repayments, total interest and expected payoff time for a principal and interest home loan. Enter the amount borrowed, interest rate, loan term and repayment frequency, then add an optional extra repayment to see how the loan could change.
Estimated Repayments
Results are based on the example figures above.
Higher Rate Scenario
This comparison shows the minimum repayment if the interest rate rises by the selected margin.
Show Estimated Loan Balances
This calculator models a principal and interest loan using a constant interest rate, equal repayment intervals and interest compounded at the selected repayment frequency. It does not include lender fees, introductory rates, offset accounts, redraw activity, late payments, changes to the interest rate or restrictions on extra repayments. Lenders may calculate interest and repayments differently.
What The Mortgage Repayment Estimate Includes
The minimum repayment is the amount required by the model to repay the loan principal and interest over the selected term. The planned repayment adds any extra amount entered, while the payoff estimate shows how long the loan could take to clear if the interest rate and repayment pattern remained unchanged.
Total interest and total repayments are calculated across the estimated life of the loan. When an extra repayment is entered, the calculator also compares that result with the same loan making only the minimum repayment, showing the estimated interest and time saved.
Testing A Higher Interest Rate
The higher rate test recalculates the minimum repayment using the entered interest rate plus the selected percentage-point margin. It does not predict a future rate. It provides a direct comparison that shows how the repayment could change at a higher interest rate.
How Repayment Frequency Is Calculated
Monthly, fortnightly and weekly repayments are calculated as separate repayment schedules, with interest compounded at the selected frequency. This differs from simply dividing a monthly repayment by two or four. Actual lender calculations may use daily interest, monthly charging cycles, rounded repayment amounts or other methods, so a lender's quoted repayment can differ from the estimate.
Mortgage repayment figures are general estimates only. The calculator does not consider personal circumstances, borrowing capacity, lender approval criteria, loan fees, offset balances, redraw activity, changing rates or individual loan conditions. Confirm repayment amounts and loan costs with the lender before making a financial decision.
You might also like
Disclaimer: Every effort has been made to ensure the accuracy of the information provided, but we make no guarantees regarding its completeness or reliability. The data is presented for general informational purposes only and does not constitute financial, investment, or legal advice. We are not liable for any errors, omissions, or consequences arising from its use. Users should verify details with relevant sources and seek professional advice where appropriate for the most accurate and up-to-date guidance.
